Real estate developers in HCM City are looking for ways to boost the market amid a slump caused by the Covid-19 epidemic (Photo: VNA)
HCM City (VNS/VNA) – The HCM City real estatemarket provides more housing projects and subsidises rentals to boost the marketamid the COVID-19 pandemic.
An announcement by the city Department of Construction in thefirst quarter said there were 3,137 housing products comprising apartments andtownhouses in nine projects in the market.
Notably, a six-star hotel and office project opposite Ben ThanhMarket in District 1 is now putting for sale 214 apartments after years ofdelay because it is the first project in Vietnam with six basements, whichcaused some unique difficulties.
Beside luxury properties, investors are also providing socialhousing on a large scale: 352 units at the Nam Phan project in Phu Huu ward,District 9, are available for sale.
This is unique because normally social housing units rarelyexceed 100 in any sale, according to the investors.
Another project is in Thu Thiem ward -- Metropole Thu Thiem-- with 465 housing units.
Besides providing more housing products, developers are alsooffering more support policies in the context of the pandemic, accordingto the investors.
Hung Thinh Corporation JSC, for instance, will reduce rentsby 20 - 40 percent at commercial centres at its Moonlight Plaza in Thu Ducdistrict, Saigon Mia in Binh Chanh district and Vung Tau Melody in Vung Tau city.
Vingroup said it would spend 300 billion VND to subsidiselessees at all its 79 commercial centres with fixed-price leases.
It would also extend the payment periods for people buyinghouses./.
The HCM City Real Estate Association (HoREA) has called on the Government to resolve problems related to legal and administrative procedures and access to funding and cut lending interest rates to revive the property market.
The Ho Chi Minh City Real Estate Association (HoREA) has urged the Government to add the property industry to the list of those affected by the COVID-19 outbreak and are eligible for a five-month postponement of value-added tax and land-use fee payments.
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Real estate developers in HCM City are looking for ways to boost the market amid a slump caused by the Covid-19 epidemic (Photo: VNA) 
